Lawsuit

In dismissing the case, the City of Providence acknowledges that OneChicago is not involved in the activity which is the subject of the complaint, which charges the defendants with diverting billions of dollars to themselves.

Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker:

Apple Inc. won more than $290 million in damages from Samsung Electronics Co. for patent infringement in a do-over trial that restored most of the amount cut from the iPhone maker’s jury victory in 2012.

Twitter Inc. was sued for $124 million by two financial firms that claim the Internet company engineered a failed private sale of its shares to pump up investor interest for its planned initial public offering.

Jon Corzine, the former head of MF Global Holdings Ltd., masterminded a scheme to inflate earnings that led to the eighth-biggest bankruptcy in U.S. history, according to an updated lawsuit filed by a trustee for the failed futures broker.